Failing to achieve his desired tariff levels could inspire him to build a trade system that serves America and the free world — at China’s expense.
After setbacks in another U.S. court and in the geopolitical rivalry with autocrats, President Donald Trump risks losing on his signature economic and foreign policy goals of rebalancing trade and recasting U.S. leadership in the global economic order. Although he is likely to lose his legal fight over his use of the International Emergency Economic Policy Act (IEEPA) to justify his trade program, when the Supreme Court hears arguments this November, he has an opportunity to reinvigorate his plan if he acts decisively to win over traditional allies in creating a new trade order.
